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NewsUpdate MPHB Capital cancels final dividend after Bank Negara disapproves payout
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Update MPHB Capital cancels final dividend after Bank Negara disapproves payout
by Cals Thu 08 May 2014, 19:26
| Update MPHB Capital cancels final dividend after Bank Negara disapproves payout |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Thursday, 08 May 2014 17:48 |
KUALA LUMPUR (May 8): Diversified entity MPHB Capital Bhd has cancelled its proposed final dividend of five sen a share for financial year ended December 31, 2013 after the plan failed to get Bank Negara Malaysia's approval.
In a statement to the exchange today, MPHB Capital said as a result of Bank Negara's rejection of the proposal, MPHB Capital would not seek its shareholders' consent on the matter.
"The company wishes to announce that Bank Negara Malaysia did not approve the company’s proposed payment of final dividend.
"Accordingly, we regret to inform that the proposed payment of final dividend has been cancelled and it will not be tabled for shareholders’ approval at the forthcoming annual general meeting of the company," MPHB Capital said.
MPHB Capital, which undertakes real estate operations, is also in the hotel and financial-services businesses.
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